Why did we close Block Generator pre-Staking?
To avoid high transaction costs for previous Block Generator stakers, we have returned the stakes and paid for all necessary smart contract interactions. Read more here
Can I stake Provisioner from my previously used Block Generator address?
Yes. If you have not staked as a Provisioner before you can use the same address. In the event you have been participating in both Block Generator and Provisioner staking from this address, you need to create a new address for additional Provisioner staking.
When did you return Block Generator Stakes?
All stakes were returned by the 17th of January, 2021.
How many DUSK do I need to stake as a Provisioner?
Provisioners may stake any amount between 10.000 DUSK and 1.000.000 DUSK tokens to be eligible for rewards, i.e. earning a fixed return. As opposed to Block Generators, who are in constant competition with one another, Provisioners play a team role within the system, and should therefore be accessible to a wider range of participants.
How many Provisioner stakers can there be?
There is no limit on the number of Provisioners that can participate (other than the actual limit of the available DUSK token supply).
What are the rewards for Provisioner staking?
All Provisioners earn the same return percentage, no matter the size of their stake. The fixed annualized return for Provisioners is set at 12%.
For example, if you were to stake 10.000 DUSK, in a year you would have accumulated a total reward of 1.200 DUSK (12% return), whereas if you were to stake 50.000 DUSK for a year the reward would amount to 6.000 DUSK (12% return).
Note that, in practice, the reward calculation is performed on a daily basis (updated every 24h).
What is Provisioner staking?
This type of staking means you are fulfilling a vital role within Dusk Network by acting as a ‘Provisioner’. Unlike Block generators, who battle it out to create the winning candidate block, Provisioners join the Provisioner Committee to agree on the block that should be added to the chain.
This atypical structure adds a division of power to further strengthen the security of the network and diminishes any chance of corrupting consensus. While this may sound complicated, acting as a Provisioner is actually a very simple process that ensures participants are rewarded for their efforts. All it takes is ‘locking in’ your DUSK tokens.
If you’d like to know more about the purpose of staking within Dusk Network, please read our article: An Introduction to our unique Consensus Algorithm.
What is Block Generator staking?
This type of staking means you are fulfilling a vital role within Dusk Network by acting as a ‘Block Generator’. Staking as a ‘Block Generator’ prevents collusion within the network by competing to produce a candidate block through a novel mechanism called Proof-of-Blind Bid . This PoBB powers Dusk Network and is an energy conscious consensus algorithm that generates unprecedented network security.
While this may sound complicated, acting as a Block Generator is actually a very simple process that has participants sharing in a sizable DUSK token reward pool. All it takes is ‘locking-in’ your DUSK tokens.
If you’d like to know more about the purpose of staking within Dusk Network, please read our article: An Introduction to our unique Consensus Algorithm
When can I stake as a Block Generator again?
At the Dusk Network Mainnet launch it will be possible again to stake as a Block Generator. For more details on staking mechanics and reward distributions please read our Economic Paper. For more information on the pre-staking Block Generator Staking closing move over to the STAKING UPDATE section on top.
Are the requirements for ERC-20 staking similar to those for mainnet staking?
We have attempted to closely mimic mainnet staking conditions. Our economic model paper details our plans for mainnet staking.
Can I change my reward address after I stake?
Once a reward address is submitted, it cannot be changed. However, you can restart the staking process from a new ETH address by withdrawing all your staked DUSK and moving them to this new address.
Please note that withdrawing your staked DUSK activates a 7-day cool-down period during which no staking rewards will be accumulated.
When are staking rewards calculated?
Rewards are calculated on a full day-to-day basis, i.e. every 24 hours. This means no rewards are calculated for staking only a partial day. However, it also means that a temporary staking ‘time-out’ won’t automatically result in losing a month’s worth of rewards.
Reward calculation occurs exactly every 24 hour after contract deployment. The time and date of Provisioner contract deployment was: September 21, 2020, 12:00 UTC.
I’ve decided I want to become a staking participant in the Dusk Network! Where can I sign up?
Simply visit staking.dusk.network and follow the registration instructions.
Who's paying for the ERC-20 staking rewards?
The rewards come from Dusk Network's marketing & ecosystem budget allocations. The maximum supply of DUSK tokens, of course, remains unaffected.
Can I withdraw just my rewards?
Yes, you can withdraw your accumulated rewards separately from your initial DUSK staking amount. Similar to how you initiated your staking, you can simply head over to your dashboard to find an option for reward withdrawal.
Be aware that initiating and claiming your rewards are interactions with the smart contract and are subject to transaction fees on the Ethereum network. If you are looking to minimize the cost of transactions: all accumulated rewards are automatically added to your stake when you initiate the unlock stake process.
What happens when I want to stop staking?
Similar to how you started staking, you can indicate your desire to stop staking in your Dashboard. When you indicate your desire to stop staking, you will be returned your total staked & rewarded DUSK after a 7-day cool-down period.
Please note that after the 7-day cool-down period has commenced, you will need to interact with the smart contract again to retrieve your stake. During this cool-down period, no staking reward will be accumulated.
Do unclaimed rewards accumulate interest?
Reward calculation is based on the principal amount of staked DUSK tokens. The accruement of rewards does not stack on top of this amount, meaning that unclaimed rewards do not accumulate compound returns. In essence, there is no benefit to not claiming your staking rewards, other than the minimization of transaction fees.
Who can become a Dusk Staker?
We value accessibility. This is why the process of staking DUSK tokens will be open to the public. All that is required is the prerequisite DUSK token amount, and to be eligible in accordance with our country exclusion list. As a general rule of thumb, if you are able to buy and trade DUSK then you should be able to stake.
During the ERC-20 stage, minimal technical knowledge is required to stake. Our step-by-step tutorials will detail the actions needed to participate, while ensuring wide accessibility to non-technically savvy users.
What is the minimum duration of Dusk staking?
Staking as a Block Generator or Provisioner requires a minimum DUSK token lock-up of 30 days. As implied, staked DUSK tokens cannot be moved or returned during this period. Please note that, in addition to the lock-up, there is a 7-day cool-down period if you wish to stop staking, and withdraw your stake (or reward). This results in a total minimum lock-up duration of 37 days.
Why use MetaMask?
MetaMask automates a host of interactions and reduces the chances of mistakes in the staking process. The MetaMask app can be found here: https://metamask.io/
Which wallets are supported?
This stage of Dusk Network staking is compatible with any ERC-20 wallet, as long as you own the private key or seed phrase, so they can be imported into MetaMask. Cold storage devices such as Ledger or Trezor can also be used with MetaMask.